MINING IN MEXICO — PROJECT ROUNDUP — Silver usage at 14.7

The official market for silver use in Mexico in 1992 for industrial purposes and jewelry was about 14.7 million oz.

The Silver Institute of Washington, D.C., reports that slightly more than half of this total was used in the manufacture of photographic films and papers. The next largest use was in jewelry and decorative objects. On the coin side, the Banco de Mexico began minting and issuing silver-bearing coins for circulation in late 1992. Initially, a 10-peso coin containing one-sixth of an ounce of silver was issued. In January of this year, the mint began striking a 20-peso coin containing a quarter of an ounce, to be issued by mid-year.